US durable goods orders hold steady in October

New orders for manufactured durable goods were virtually unchanged in October from September, the Commerce Department said Tuesday. Orders for durable goods, items expected to last at least three years, edged up by a mere 48,000 in October, the department said. It was the fifth increase in the last six months. September's sharp gain was downwardly revised to 9.2 percent from the prior estimate of 9.8 percent. The department noted that superstorm Sandy, which battered the northeast in late October, had not impacted the data. Excluding the volatile transportation equipment sector, including aircraft and automobiles, new orders rose for a second straight month, by 1.5 percent. Overall, new orders were up 5.3 percent from October 2011.